Binance and Bitget Implement Sanctions-Driven Restrictions on Crypto Platforms

Binance announced it will cease processing transactions with HTX and 10 other platforms starting August 23, aligning with EU sanctions against entities aiding Russia in evading restrictions due to the Ukraine invasion. The affected platforms include Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, and EXMO. This action follows a similar move by Bitget, which is tightening controls on 16 platforms, including HTX and EXMO, due to sanctions from US and European authorities. Both exchanges are mirroring government sanctions lists rather than conducting independent risk assessments, which may limit their legal exposure. The restrictions are part of a broader trend of compliance-driven actions by major exchanges in response to geopolitical pressures. The convergence of US and EU sanctions is evident, as both exchanges have restricted similar platforms within days of each other.

Key Points: • Binance will stop transactions with HTX and 10 other platforms starting August 23. • Bitget is tightening controls on transactions involving 16 platforms due to sanctions. • Both exchanges are aligning their restrictions with government sanctions lists.